Here#8217;s exactly what I#8217;m looking at for GU, called target comes in at that strong distribution zone.
Here#8217;s exactly what I#8217;m looking at for GU, called target comes in at that strong distribution zone.
So this is my weekly top down analysis about the GU,
first the weekly chart this theory is based on the truth that price cannot continue up without some kind of retracement price should pull back in order to go higher that's fact.
Keep this in your mind
short duration=long
moderate term=brief
long term(end of the year)=long
thats my bias therefore in the medium term I'm searching brief. So what do I do to get brief what do I expect the market doing to become in an ideal short position well I think it will make a tripple top.
From the tripple shirt on the weekly a push to check the middle part of the M creation. This is a solid degree of service which will need power to be bankrupt, how can this really be done well a bear flag (big impulsive move down followed by a pull back since it gathers strength as we noticed in the previous flag I drew this should then break that service. From there down to the bottom of the M creation on the weekly to complete the correction out of there a push to new highs.
Theres the weekly chart.
So down to the daily what exactly do we see on this chart well precisely the same as the weekly chart my daily is used to zoom in on the moderate term prejudice
The daily exhibits just like the weekly however more zoomed in what exactly do we see on here the first short-term prejudice tripple top with the downward movement to start that bear flag. Have a look closer in the bear flag over the daily it's just another more compact M pattern done!! Strange hey. Now here's more confluence we choose our tripple top high to low as the size of intended target and project that, now the best way to exchange a tripple top pattern is we wait for a breakout below the lows if we put our gloomy projected line from the highs of this tripple top look at which it comes in at....right in the conclusion of the M creation on the weekly....strange hey!
Finally our our short-term aim is long so we are able to reach that tripple shirt what's price showing me. I go for my 4 hour for entrance and what do I find I posted this yesterday it's my run and bump pattern. Now this pattern can consists when we get a rest of our trendline the jog should operate lol.
Now don't forget men this is my plan I've a plan at what I'm searching for if price gets to each point
point 1-move to TT
point 2-move down from TT
phase 3- complete of smaller M formation/initial bear flag begins
phase 5-pull back to break support
point 6-completion of weekly correction
phase 7-move to new highs
Now all this may be wrong but all that I could do is break down my plan into short medium and long-term phases once price gets to each stage I'll assess to find out if my plan may still
hold up, if not I'll adjust to price and see what I could view on my charts
Thus EU we've been looking at that triangle with false breakouts until it rises up, price again shut in that triangle again last week so in the short term I'm anticipating price get to the trendline of the triangle so up for the EU.
My pattern I found that could potentially play out for this is that this descending broadening wedge again these patterns can fail the reason I'm looking at this is because the EU is at a range and keeps shutting in the triangle once it's broke out.
AUDUSD-Long possible 3 valley set up
Target based on previous support turned resistance which is the green line
Heres what I#8217;m considering, price has been on a strong down trend as you can see appearing abandoned,
out there we had a range from 2016-2017 after breaking in 2017 I classed this as my first valley as it had been the first valley created after breaking resistance of that range. We then had price creating another valley ie valley 2.
Now could this be the start of valley 3 could that range resistance which was held for a year now become service?
AUDUSD is in a ideal place to have an Agressive long to at least the summit of valley 2, if valley 2 summit be broken for me this will support my 3 rising valley pattern which would then start a solid uptrend.
shouldn't the second wave move higher,if you wanted a dual top that's more like it
The second wave did push higher friend not by much but nevertheless it pushed higherOriginally Posted by ;
the first valley topped at 0.81268 along with the second valley topped at 0.81357 awarded it#8217;s Loke a pip but it#8217;s higher, also some people today use wicks others use the body of candles that the entire body#8217;s closed higher. (I do use wicks however)then looking left the Major downtrend price Will Have to close that huge gap at some point
The GU we called the bear flag, and Captured a Wonderful move down on This, the only thing is price wouldn't usually have so much bullish Power back up That is why I say at test of This resistance level I was Planning on Around before to Create the triple top as I call itOriginally Posted by ;
Not sure if that is a bit clearer the red is valley 1 gloomy is valley two which peaked a bit higher than valley 1 also had candle bodies close higher than valley 1 and pink is what I#8217;m looking at to happen the black line is your neckline to break by valley 3 to validate the patternOriginally Posted by ;
NZDJPY could this possibly form a Inverted Head and shoulders?? Guess we'll see this again is me going the trade SHOULD it do that it might just continue up or not even form a HS pattern I#8217;m just saying what potentially could happen and I#8217;m prepared, these would be the daily charts men so these take a while to play out and won#8217;t necessarily be correct. I just post what I#8217;m seeing and I love to post my chart prior to the event. I#8217;m not one to post after the event and draw on the pattern in that#8217;s pointless